Development of other vehicles is most likely to fall under the auspices of its recently announced joint venture deal with Renault-Nissan, although this has only been publically announced as a project to co-develop a kei car and share future technologies.

“Mitsubishi has found its niche in recent years, and has confidence that it can build market-leading SUVs, crossovers and MPVs, especially with advanced electrification technology,” said the insider. “There’s enough of a business case in that to suggest Mitsubishi has a bright future as a profitable, large niche player in the global car market.”

The move calls in to question the future of cars such as the Mirage and Lancer, which the insider said were likely to be co-developed under the alliance. “So long as a platform can be given the right Mitsubishi attributes, there’s only gains to be had from the strategy,” he said.